RIVERSIDE, Calif. – Altura CU said Coachella city officials have convinced them to keep their branch there open, at least until the end of the year.
Te $900 million credit union, which followed a $13.8 million loss for 2008 with a $2 million first quarter loss, had planned to close the Coachella facility and one in San Jacinto, and convert another into an all-cash branch, as part of a cost-cutting program. But after discussions between city and credit union officials, the credit union has decided to stay open through December and maybe longer. The discussions included the possibility of the city opening accounts at the credit union to generate more business.
The downtown branch is seen as an anchor for local commerce and employs six individuals, who will keep their jobs for now.
